First Of All…
Hey, congratulations! You’re starting your first LLC! This is a big moment for you and your small business. Here at Corporation Center, we are glad when someone decides to venture into starting their own corporation. In this post, you’ll learn how to start a Limited Liability Corporation for the first time and how to keep it running smoothly.
Decide What Your Business Is Going To Be
This may seem obvious, but it’s not always easy. Part of the issue is the fact that there are many different options for what your company might do. For example, if you have a great idea for an app but no technical skills or experience developing apps, you could hire some developers and become an app developer yourself. Or maybe your skills as a designer would be better suited to working with developers on other projects rather than actually building apps yourself; in this case, you could establish yourself as an app development firm where others could bring their ideas and concepts to you for development.
Choose The State Where You Are Going To Start Your LLC
Now that you have chosen the type of LLC you want to establish, it’s time to decide where to start your LLC. This is a critical decision because it will affect many aspects of your business, including taxation and legal liability protection.
You may be tempted just to choose the state where you live or are planning on doing most of your work. But this can be a costly mistake! It’s important to consider all factors when choosing a location for your LLC—including tax laws, legal liability protection, and ease of access—before deciding which state is best for you.
Deciding A Name For The LLC
The first decision you’ll make when forming an LLC is choosing a name for your business. It’s important to choose a name that is easy to remember and is not already in use by another company, because this can cause problems in the future. You should also avoid any names that are too generic, long, or short-sounding, as these types of names are not very memorable.
Get An EIN and Set Up Taxation
If you’re starting a business, you’ll need to obtain an Employer Identification Number (EIN). This is a unique nine-digit number that identifies your company as a legal entity and can be used for tax purposes. To get an EIN, complete Form SS-4, Application for Employer Identification Number and submit it with the appropriate fees by mail or fax. Your business must be located within the United States to use the online service, which is available Monday through Friday.
Once you’ve received your EIN and opened up a business bank account, the next step is setting up taxation for both yourself and your LLC. You will have to file taxes on behalf of yourself as well as the LLC. In order to do this properly, it’s important to set up those two entities under one Tax ID instead of having them operate separately from one another (which would result in double charges).
Obtain Any Necessary Licenses, Permits or Other Registrations That May Be Required By Your Business.
In addition to the corporate documents you have prepared, you will also need to check with your local authorities to determine whether any licenses or permits are required for your business. For example, an Article of Incorporation is the document necessary to register a corporation within each state.
Similarly, if your LLC is going to sell goods or provide services within a city, it may be subject to certain regulations regarding licensing and permits for such activities. If this is the case, contact the appropriate regulatory agency in that city and find out what you will need to do in order for your LLC to comply with these requirements. In addition to local licenses and permits, there may be state-wide licenses and permits that apply as well; contact the Secretary of State’s office in your state (or equivalent) office and ask what types of licenses or registrations are necessary for your LLC’s industry/type of business activity.
Keep A Registered Agent For Your LLC In The State Where You Have Created It
If you are running your business as a Limited Liability Corporation, it is important to make sure that you have registered an agent with the state where your LLC was created. A registered agent can be an individual or a company that agrees to accept legal documents on behalf of your LLC. If you do not have a registered agent, then the state will send these documents directly to you by mail!
A good way of knowing about the experience of other businesses listed in our area using this type of service would be by checking out reviews online from customers who have used them before, reading through testimonials about how well their products worked for different people and what kind of experience they had using them (both good ones as well as bad ones), doing some research into how much money each service provider charges per month based on what type of package plan they offer (e.g., bronze level vs platinum level), etcetera.
Get A Certificate Of Good Standing From The Secretary of State.
To make things easy, the Secretary of State will provide you with a certificate of good standing. This is important because it confirms that your LLC has been officially registered and is able to conduct business at this time. Be sure to keep this certificate, and any other documents related to your business in a safe and secure place.
So, now you know the basic steps towards starting an LLC. The good news is that this process is pretty streamlined and straightforward—it’s not too different from starting an LLC in any other state. At the Corporation Center, we offer LLC registration forms for all 50 states in easy-to-complete web documents. That way, we can save you some time.